UAE Rolls Over US$2B loan
Staff Report:
The United Arab Emirates (UAE) has rolled over Pakistan’s payment of US$2 billion to ease pressure on the balance of payments and provide relief to the country’s financially constrained economy.
Prime Minister Shahbaz announced this while chairing a meeting of the federal cabinet at the Prime Minister House.
Addressing the cabinet, the Prime Minister highlighted his recent meeting with the President of the United Arab Emirates in Rahim Yar Khan.
He stated that the UAE has decided to defer Pakistan’s payment of US$2 billion. This payment was due in January this year. The UAE President also reiterated his commitment to invest in Pakistan and underscored the importance of the historical brotherly relations between the two nations.
The Federal Cabinet approved the declaration of the Federal Board of Revenue’s infrastructure as critical infrastructure under the Prevention of Electronic Crimes Act (PECA), 2016.
This decision aims to safeguard the highly sensitive data of the Federal Board of Revenue from cyberattacks, including hacking and other unauthorized interference.
On the recommendation of the Aviation Division, the Federal Cabinet approved the extension of the Temporary Operating Permit for Fly Dubai. This permit allows weekly flights between Lahore, Islamabad, and Dubai from January 4, 2025, to February 3, 2025.
The Ministry of Maritime Affairs briefed the cabinet on public sector imports and exports managed by 11 federal ministries and divisions through Gwadar Port since March 2024.
The Prime Minister directed to route 60 percent of all public sector imports and exports through Gwadar Port. A comprehensive report, consolidating inputs from all relevant ministries, was also requested.
The Ministry of Information Technology and Telecommunications updated the cabinet on the progress of e-Office implementation across federal ministries and divisions.
Starting January 1, 2025, paperless communication has been adopted, with file movement and correspondence now fully managed through e-Office.
Implementation has reached 100 percent in 21 ministries and divisions, significantly reducing processing times and saving on stationery and petrol expenses. The Prime Minister’s Office has reported that summary processing now takes a maximum of three days.
The Federal Cabinet approved the exemption for purchasing refurbished Chromebooks for schools and colleges under Section 21-A of the Public Procurement Regulatory Authority Ordinance. The Prime Minister mandated a third-party audit of these purchases to ensure transparency.
The cabinet also approved the signing of a Memorandum of Understanding (MoU) between the Board of Investment and Shandong Ruyi Group, China, for the establishment of textile parks. Similarly, the cabinet approved an MoU between the Diplomatic Academy, Ministry of Foreign Affairs of Serbia, and the Foreign Service Academy, Ministry of Foreign Affairs of Pakistan.
The cabinet also approved the recommendations of Cabinet Committee on Private Hajj Operators Court Cases. Arrangements for Hajj 2025 will be managed by the existing 46 organizers. Additionally, cabinet issued a directive to formulate a new Hajj policy for future years and conclude all court cases related to private Hajj operators.
The Federal Cabinet also ratified decisions made during meetings of the Cabinet Committee on Legislative Cases held on December 31, 2024, and January 1, 2025.
